Inspire Medical Systems (NASDAQ: INSP) D.E. Shaw affiliate reports 5.1% holding

Rhea-AI Filing Summary

Inspire Medical Systems reports that D. E. Shaw & Co., L.P. (and David E. Shaw) beneficially hold 1,483,107 shares of common stock, representing 5.1% of the class. The filing states shared voting power of 1,374,263 shares and shared dispositive power of 1,483,107 shares. The filing notes that David E. Shaw disclaims beneficial ownership of these shares and that the holders filed jointly.

Insights

Institutional Ownership Analyst

Large passive stake disclosed: 1,483,107 shares (5.1%).

The report documents that D. E. Shaw & Co., L.P. and related reporting persons hold 1,483,107 shares with shared voting power of 1,374,263 shares, per the filing. This identifies a visible institutional position in the company's equity capital structure as of the filing.

Future disclosures in SEC filings may provide trading activity or changes; the filing also states that David E. Shaw disclaims beneficial ownership, which affects attribution of economic ownership in public records.

Corporate Governance Specialist

Filing emphasizes joint filing and power allocation.

The schedule clarifies voting and dispositive powers across multiple affiliated entities (Valence, Oculus, Composite portfolios and an investment manager), listing specific share counts by entity grouping. The joint filing agreement and power of attorney are referenced as governance documents supporting the reported controls.

Because the filing records shared rather than sole powers and includes a disclaimer of beneficial ownership by David E. Shaw, the public record emphasizes adviser-managed holdings rather than direct personal ownership.

Key Figures

Shares beneficially owned: 1,483,107 shares Percent of class: 5.1% Shared voting power: 1,374,263 shares +4 more

7 metrics

Shares beneficially owned 1,483,107 shares Schedule 13G filing

Percent of class 5.1% Percent of outstanding shares as stated in the filing

Shared voting power 1,374,263 shares Shared voting power reported

Component — Valence 486,655 shares Held in name of D. E. Shaw Valence Portfolios, L.L.C.

Component — Oculus 362,550 shares Held in name of D. E. Shaw Oculus Portfolios, L.L.C.

Component — Composite 31,529 shares Held in name of D. E. Shaw Composite Portfolios, L.L.C.

Component — Investment Manager 602,373 shares Under management of D. E. Shaw Investment Management, L.L.C.

Key Terms

beneficially owned, shared dispositive power, disclaims beneficial ownership

3 terms

beneficially owned regulatory

"Amount beneficially owned: D. E. Shaw & Co., L.P.: 1,483,107 shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power regulatory

"shared power to dispose or direct the disposition of: 1,483,107 shares"

disclaims beneficial ownership regulatory

"David E. Shaw disclaims beneficial ownership of such 1,483,107 shares"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 07/02/2026 - 04:06 PM Accepted by SEC EDGAR 07/02/2026 - 04:05 PM Learn about SEC filing dates

FAQ

What stake did D. E. Shaw report in Inspire Medical Systems (INSP)?

The filing reports 1,483,107 shares, which the filing labels as 5.1% of the class. The count aggregates holdings across affiliated portfolios and the investment manager as listed in the schedule.

How much voting power does D. E. Shaw have in INSP?

The filing shows shared voting power of 1,374,263 shares. That figure is presented separately from shared dispositive power in the schedule of ownership.

Does David E. Shaw personally own the reported INSP shares?

The filing states that David E. Shaw does not own shares directly and that he "disclaims beneficial ownership" of the 1,483,107 shares reported, attributing holdings to affiliated entities and advisory roles.

Which affiliated accounts comprise the 1,483,107 shares?

The schedule attributes the total to four components: 486,655 (Valence Portfolios), 362,550 (Oculus Portfolios), 31,529 (Composite Portfolios), and 602,373 managed by D. E. Shaw Investment Management, L.L.C.

Were the reporting persons filing jointly for INSP?

Yes. The filing includes a referenced Joint Filing Agreement dated July 2, 2026 and signatures by an authorized signatory executed on 07/02/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Inspire Medical Systems, Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

457730109

(CUSIP Number)

06/25/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 457730109

1

Names of Reporting Persons

D. E. Shaw & Co., L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,374,263.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,483,107.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,483,107.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 457730109

1

Names of Reporting Persons

David E. Shaw

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,374,263.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,483,107.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,483,107.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inspire Medical Systems, Inc.
(b)	Address of issuer's principal executive offices: 5500 Wayzata Blvd., Suite 1600, Golden Valley, MN 55416
Item 2.
(a)	Name of person filing: D. E. Shaw & Co., L.P. David E. Shaw
(b)	Address or principal business office or, if none, residence: The business address for each reporting person is: Two Manhattan West 375 Ninth Avenue, 52nd Floor New York, NY 10001
(c)	Citizenship: D. E. Shaw & Co., L.P. is a limited partnership organized under the laws of the state of Delaware. David E. Shaw is a citizen of the United States of America.
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP Number(s): 457730109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: D. E. Shaw & Co., L.P.: 1,483,107 shares This is composed of (i) 486,655 shares in the name of D. E. Shaw Valence Portfolios, L.L.C., (ii) 362,550 shares in the name of D. E. Shaw Oculus Portfolios, L.L.C., (iii) 31,529 shares in the name of D. E. Shaw Composite Portfolios, L.L.C., and (iv) 602,373 shares under the management of D. E. Shaw Investment Management, L.L.C. David E. Shaw: 1,483,107 shares This is composed of (i) 486,655 shares in the name of D. E. Shaw Valence Portfolios, L.L.C., (ii) 362,550 shares in the name of D. E. Shaw Oculus Portfolios, L.L.C., (iii) 31,529 shares in the name of D. E. Shaw Composite Portfolios, L.L.C., and (iv) 602,373 shares under the management of D. E. Shaw Investment Management, L.L.C. David E. Shaw does not own any shares directly. By virtue of David E. Shaw's position as President and sole shareholder of D. E. Shaw & Co., Inc., which is the general partner of D. E. Shaw & Co., L.P., which in turn is the investment adviser of D. E. Shaw Valence Portfolios, L.L.C., D. E. Shaw Oculus Portfolios, L.L.C., and D. E. Shaw Composite Portfolios, L.L.C. and the managing member of D. E. Shaw Investment Management, L.L.C., and by virtue of David E. Shaw's position as President and sole shareholder of D. E. Shaw & Co. II, Inc., which is the managing member of D. E. Shaw & Co., L.L.C., which in turn is the manager of D. E. Shaw Valence Portfolios, L.L.C., D. E. Shaw Oculus Portfolios, L.L.C., and D. E. Shaw Composite Portfolios, L.L.C., David E. Shaw may be deemed to have the shared power to vote or direct the vote of 1,374,263 shares and the shared power to dispose or direct the disposition of 1,483,107 shares, the 1,483,107 shares as described above constituting 5.1% of the outstanding shares, and, therefore, David E. Shaw may be deemed to be the beneficial owner of such shares. David E. Shaw disclaims beneficial ownership of such 1,483,107 shares.
(b)	Percent of class: D. E. Shaw & Co., L.P.: 5.1% David E. Shaw: 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: D. E. Shaw & Co., L.P.: 0 shares David E. Shaw: 0 shares
	(ii) Shared power to vote or to direct the vote: D. E. Shaw & Co., L.P.: 1,374,263 shares David E. Shaw: 1,374,263 shares
	(iii) Sole power to dispose or to direct the disposition of: D. E. Shaw & Co., L.P.: 0 shares David E. Shaw: 0 shares
	(iv) Shared power to dispose or to direct the disposition of: D. E. Shaw & Co., L.P.: 1,483,107 shares David E. Shaw: 1,483,107 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

D. E. Shaw & Co., L.P.

Signature:	/s/ Daniel R. Marcus
Name/Title:	Daniel R. Marcus / Chief Compliance Officer
Date:	07/02/2026

David E. Shaw

Signature:	/s/ Daniel R. Marcus
Name/Title:	Daniel R. Marcus / Attorney-in-Fact for David E. Shaw
Date:	07/02/2026

Comments accompanying signature: Exhibit 1: Power of Attorney, granted by David E. Shaw relating to D. E. Shaw & Co., Inc., in favor of the signatories hereto, among others, dated August 1, 2024.

Exhibit Information

Exhibit 2: Joint Filing Agreement, by and among the Reporting Persons, dated July 2, 2026.